Pula-based Arena Hospitality Group has announced that it has concluded a framework agreement on the acquisition of the four-star hotel 88 Rooms in Belgrade, and the value of the transaction slightly exceeds six million euros.
“The Arena Hospitality Group, through its subsidiary Sugarhill Investments B.V., concluded a framework agreement with MK Aviation Services on the acquisition of the 4-star hotel 88 Rooms in Belgrade. The completion of this transaction is subject to the execution of certain steps and fulfillment of certain conditions,” the announcement says.
Arena adds that 88 Rooms is a modern hotel, located at an excellent location in Takovska Street, near the business zone. The hotel, in accordance with its name, has 88 comfortable rooms and apartments decorated according to feng shui rules, while other amenities include a bar, restaurant, fitness room, massage rooms and four conference rooms for up to 200 participants.
Through this acquisition, the Arena Hospitality Group continues its expansion abroad, based on the already established business model of managing seven international hotels in Berlin, Nuremberg, Cologne and Budapest.